Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, is exploring a sale of private equity investments worth more than $1bn, according to Private Equity Wire.
The potential sale is being considered as institutional investors continue to turn to the secondary market to rebalance portfolios and generate liquidity, according to Private Equity Wire, which reports the information was originally published by Bloomberg.
Adviser mandate and process status
Bloomberg cited unnamed people familiar with the matter as saying that KIC has appointed investment bank PJT Partners to advise on the potential transaction, according to Private Equity Wire.
The discussions are at an early stage, and the assets involved, transaction structure, and eventual size could change, according to the same report.
PJT Partners declined to comment, and KIC did not immediately respond to requests for comment, according to the report.
KIC portfolio snapshot
KIC managed approximately $232bn of assets at the end of 2025, according to Private Equity Wire.
KIC reported a 10-year annualised return of 7.07%, the report said.
More than 78% of KIC’s portfolio was allocated to traditional asset classes including equities and fixed income, with the remainder invested across alternatives such as private equity and real estate, according to the report.
What a >$1bn secondary sale would do
A sale of more than $1bn in private equity interests would allow KIC to rebalance part of its alternatives portfolio, the report said.
The same transaction would provide buyers with exposure to an existing pool of private equity investments without having to commit capital directly to new primary funds, according to Private Equity Wire.
The report described KIC’s exploration of a sale as taking place as institutional investors continue to use the secondary market to rebalance portfolios and generate liquidity.
Widely known context: private equity “secondaries” typically refer to transactions where investors buy and sell existing limited partner fund interests rather than making new commitments to primary funds.
